Dangote Refinery Clarifies: Pricing Not Tied to Daily International Crude Oil Quotations
In its official statement, the refinery clarified that its pricing does not move in tandem with daily international crude oil quotations. Added that Crude oil is procured weeks and in some cases months before it is processed, under commercial contracts linked primarily to monthly average pricing mechanisms rather than prevailing spot market prices.
The statement reads: “Dangote Petroleum Refinery & Petrochemicals remains committed to ensuring that Nigerians benefit from favourable market developments through fair, responsible and sustainable pricing of petroleum products.
Since May 30, 2026, Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) by N200 per litre, Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre, despite continuing to process crude oil acquired during a period when international crude prices were significantly higher than current levels.
“These reductions demonstrate our commitment to passing on cost efficiencies to consumers while maintaining the operational and financial sustainability of domestic refining.
“It is important to clarify that refinery pricing does not move in tandem with daily international crude oil quotations. Crude oil is procured weeks, and in some cases months, before it is processed, under commercial contracts linked primarily to monthly average pricing mechanisms rather than prevailing spot market prices.
“Consequently, the petroleum products currently being supplied from our refinery are being produced from crude inventories acquired at substantially higher costs than today's market prices. The average landed cost of crude processed by the refinery was approximately US$124.80 per barrel in May and US$95.25 per barrel in June, compared with the current international benchmark of about US$71.01 per barrel.
“Furthermore, refinery feedstock is not purchased at the headline ICE Brent price commonly reported in the media. Our crude is acquired on a Dated Brent plus market premium, freight and logistics cost basis, resulting in actual landed costs that differ materially from benchmark quotations.
“Notwithstanding these elevated feedstock costs, Dangote Petroleum Refinery did not immediately transfer the full impact of rising crude prices to the Nigerian market. Instead, the refinery absorbed a substantial portion of the increase in order to support market stability, reduce inflationary pressures and shield consumers from the extreme volatility witnessed in global energy markets. For this reason, prices of petroleum products in Nigeria are still lower than prices in neighbouring countries even after adjusting for taxes.
“As lower cost crude cargoes progressively enter our production cycle, we have commenced a phased reduction in product prices.
“Today's N50 per litre reduction is the fourth price cut in one month, bringing cumulative reductions to above N200 per litre on PMS. This approach ensures that pricing decisions are anchored on actual production economics and inventory costs rather than short term fluctuations in international oil markets.
“Nigeria today benefits from the stabilising role of domestic refining capacity. The Dangote Petroleum Refinery currently supplies volumes sufficient to meet national demand, helping to strengthen energy security, eliminate dependence on imports, conserve foreign exchange and provide greater price stability for consumers and businesses.
“As procurement costs continue to decline and lower priced inventories replace higher cost crude stocks, Nigerians can expect further price moderation, provided international market conditions remain favourable.”
Presidential council scandal: "If I'm wrong, let the court of law do that, and if I'm right, let the court of law do the right thing."
Adeyemi says he is ready to defend himself in court over the presidential council controversy.
#PoliticsToday
BREAKING: INEC has introduced downloadable Permanent Voter Cards (PVCs) for voters who have misplaced or defaced their original cards ahead of the 2027 general election.
This man (Prince Adeniyi Matthew) created a fake government agency called Presidential Foreign Intervention Promotion Council, appointed himself as DG, secured office space at the Federal Secretariat, opened a CBN account in its name, got N1,302,978,784 allocation in 2026 budget, summoned ambassadors to meetings, held strategic sessions with ministers, and even represented Nigeria at international conferences.
The audacity is almost unbelievable. Nigeria never runs short of ‘yan iska.
“The people of Birnin Gwari who President Tinubu liberated from bandits and restored back their farmland will vote for Tinubu. No leader in history has developed the North like Tinubu is doing. Look at the Abuja-Kaduna Road abandoned for decades by previous governments, Tinubu has provided adequate funds for it, and please note this, that road will be commissioned on November (2026)…..”
- Maternal deaths down 17%
- Newborn deaths down 10% —
- 40,000+ free C-sections
- 3,158 health centers fully revamped
- 61 PHCs solarized.
- 23,000+ health workers recruited.
Among many others.
Here are 30 major milestones achieved in the Health Sector by the President Tinubu-led administration under the leadership of Professor @muhammadpate
These milestones represents a fulfillment of the Renewed Hope agenda for the sector and demonstrates President Tinubu’s commitment towards improving the sector for sustainable health care in Nigeria.
VIDEO: I don’t think the message is the problem, I think it’s the messenger. You have a problem with the messenger First Lady and by extension, her husband, the president — Lady fire Obidiot Olodo Uprising 👇🔥😳
JUST IN: "NIGERIA 🇳🇬 GEO-POLITICAL ZONE BILL 2026
[1] As of October 1 2026, Nigeria’s six geo-political zones will become official and constitutional organs of government. This means that there will be four tiers of administration in Nigeria - Federal, Zonal, State and Local governments
[2] Nigeria will have six geo-political zones, with each being made up of seven states. Our constitution will prohibit the creation of any more states after these 42
[3] As part of this restructure, we will abolish the federal allocation regime and replace it with resource control under which states will remain the federating units. Revenue distribution will be as follows - States: 50%; Federation account: 20%; Geo-political zones: 15%; National trust fund: 15%. We shall gradually migrate towards this to achieve our targeted goal by 2040
[4] Geopolitical zones will be responsible for maintaining regional police forces to augment the activities of the Nigerian Police Force
[5] Each geopolitical zone will be constitutionally obliged to generate, distribute and transmit electricity within its domain
[6] Every year, the chairman of the geopolitical zone will rotate among the six governors within it. A chief executive will be appointed to manage what will be a civil service structure
[7] Ultimate authority for the governing of each geo-political zone rests with the committee of governors. There will also be committees of commissioners to deal with matters such as education, health, housing, transport, security, etc
[8] Each geopolitical zone authority will be responsible for secondary specialist healthcare. They will build specialist hospitals in areas such as oncology, HIV/Aids, renal failure, dementia, reproductive health, dermatology, etc
[9] These will be the 42 states that make up the six geopolitical zones:
South-South
[1] Bayelsa State - Yenagoa
[2] West Izon State - Patani
[3] Rivers State - Port Harcourt
[4] Cross River State - Calabar
[5] Akwa Ibom State - Uyo
[6] Edo State - Benin
[7] Delta State - Warri
Northeast
[1] Mambilla State - Gashaka
[2] Taraba State - Jalingo
[3] Adamawa State - Yola
[4] Borno State - Maiduguri
[5] Yobe State - Damaturu
[6] Bauchi State - Bauchi
[7] Gombe State - Gombe
Southeast
[1] Anioma State - Asaba
[2] Orashi State - Omoku
[3] Anambra State - Awka
[4] Imo State - Owerri
[5] Enugu State - Enugu
[6] Abia State - Umuahia
[7] Ebonyi State - Abakaliki
North-Central
[1] Abuja State - Abuja
[2] Gurara State - Kafanchan
[3] Benue State - Makurdi
[4] Plateau State - Jos
[5] Nasarawa State - Lafia
[6] Kogi State - Lokoja
[7] Niger State - Minna
Southwest
[1] Odo Oya State - Ilorin
[2] Oyo State - Ibadan
[3] Ogun State - Abeokuta
[4] Lagos State - Ikeja
[5] Ondo - Akure
[6] Ekiti - Ado-Ekiti
[7] Osun - Oshogbo
Northwest
[1] Sokoto State - Sokoto
[2] Kebbi State - Birnin Kebbi
[3] Kaduna State - Kaduna
[4] Katsina State - Katsina
[5] Kano State - Kano
[6] Jigawa State - Dutse
[7] Zamfara State - Gusua
[10] If any state is unable to meet its running costs, its geopolitical zone is constitutionally obliged to step in and bail it out. If not, the federal government will declare a state of emergency in that state"
This is Renewed Hope. May Nigeria 🇳🇬 rise again and be a nation of blessing and prosperity to ALL!🙏
The Bodo–Bonny Road Project is one of Nigeria’s most technically challenging highway projects. Provides the first road access to Bonny Island, improves access to major oil and gas facilities, including the NLNG plant.
37.9 km highway
17 bridges
20 key Youth programs by Federal Government that Youths should know about and maximize:
1. Student Loan for Tertiary Education: Interest-free loan, payable three years after graduation and upon securing employment. Apply at: https://t.co/K9Ck5obHnP
2. Technical and Vocational Education (TVET): Free education with a monthly stipend of N45,000 per student. Learn more at: https://t.co/UYQ85AVyg9
3. Million Technical Talent (3MTT): Training program for 3 million individuals in IT, with employment facilitation. Register at:
https://t.co/qKbzBzczUP
4. Nigerian Youth Academy (NiYA) Startup Grants: N1 million grants for 200 youth-led startups and N500,000 for 100 informal sector beneficiaries. Learn more at:
https://t.co/FkevPGWtgQ
5. NiYA Gig Digital Work Platform: Digital platform linking Nigerian youth to paid opportunities locally and globally. Learn more at:
https://t.co/lXKz3VPNVr
6. Youth Investment Fund: Financial support for young entrepreneurs. Learn more at:
https://t.co/jPP2HO3BTs
7. National Youth Development Bank: Bank providing access to capital for young entrepreneurs. Learn more at:
https://t.co/kTZCxAQWGs
8. Digital Literacy for All: Initiative to achieve 70% digital literacy by 2027. Learn more at:
https://t.co/BgbDA9Kk3H
9. Labour Employment and Empowerment Programme (LEEP): Program to create 2.5 million jobs through training and entrepreneurship development. Learn more at:
https://t.co/MxG0ReCwaE
10. NDE Renewed Hope Employment Initiative: Trained and resettled over 33,000 youth with starter packs in vocational skills. Learn more at:
https://t.co/eNKMFSIqb6
11. CNG-Powered Tricycle Empowerment Scheme: Distribution of 2,000 CNG-powered tricycles to Nigerian youth. Learn more at:
https://t.co/eCCeXhtSKs
12. Yo! Health Youth Initiative: National campaign promoting health and wellness among youth. Learn more at: https://t.co/188laxzdPY
13. Ministry of Steel Development Youth Bootcamp: Training youth in metallurgy, industrial welding, and mechanical design. Learn more at:
https://t.co/pNzNlILtBj
14. Nigeria Health Fellowship: Trained and employed 774 youth to strengthen healthcare workforce. Learn more at:
https://t.co/QJ2WPzyj7i
15. Reimagining Hope Creative Residency: Empowering young creatives in film, music, fashion, and tech industries. Learn more at:
https://t.co/vw86PJjz4O
16. NextGen Resilience Corps: Youth mobilization initiative for climate change, environmental sustainability, and local innovation. Learn more at:
https://t.co/agnwmAfgy2
17. Stockholm Junior Water Prize Nigeria: Competition for Nigerian teens to innovate in water management and environmental sustainability. Learn more at:
https://t.co/dZ8es0SCMF
18. SMEDAN Creative & Garment Studios: Empowering Nigerian youth in creative economy and fashion industry. Learn more at:
https://t.co/eOJNIvC1m1
19. NDDC Youth Entrepreneurship Fund*: N30 billion committed to youth entrepreneurship in the Niger Delta. Learn more at: https://t.co/SHR6Vund9Y
20. AfDB $100 Million Loan for Youth and Women-Led Enterprises: Targeting over 38,000 youth-led businesses with capital and business support. Learn more at:
https://t.co/HitwUQXxMc
#NigerianYouths #YouthEmpowerment #YouthOpportunities #NigeriaGovernment
#NigeriaStudents #SkillUpNigeria #FederalGovernment
Anambra State Facebook page posted the 177 SUVs Peter Obi bought for the Traditional Rulers in Anambra in 2013. That is 13 years ago.
Now, let's look at the comment section and see what Ndi Anambra had to say about Obi administration 13 years ago.
These same people are now projecting the same Man they once confirmed to be a failure to be president now..
Read through the comment section.
Those who ran their region aground cannot blame TINUBU who has never been at the federal level until 2023 when the rebuilding of Nigeria began. Atiku, Elrufai etc are not different from SA Leadership, who after failing their people In good governance, begin to blame others “they’re taking our jobs” “they are taking our presidency”.
Common!
WATCH 🇳🇬⛏️: Aerial View of the Illegal Lithium Mining Site at the Daba axis of the Old Oyo National Park, where millions of naira worth of mineral resources are carted away daily through illegal mining activities.
First Lady Remi Tinubu Responds to Criticism
I know they have been talking. I said Akara, it’s not only Akara. We also have tomato sellers, we have Boli, and those selling pepper, selling vegetables in the market, we’ll continue to empower them.
I know all those who are affected will appreciate it, and we are not intimidated by all those wrong reports.
- First Lady Oluremi Tinubu
My Round of 32 Predictions:
🇿🇦 South Africa 0–1🇨🇦 Canada ✅
🇧🇷 Brazil 2–1 🇯🇵 Japan
🇩🇪 Germany 2–0 🇵🇾 Paraguay
🇳🇱 Netherlands* 2–2 🇲🇦 Morocco
🇨🇮 Ivory Coast 1–3 🇳🇴 Norway
🇫🇷 France 3–1 🇸🇪 Sweden
🇲🇽 Mexico 2–0 🇪🇨 Ecuador
🏴 England 2–0 🇨🇩 DR Congo
🇧🇪 Belgium 1–2 🇸🇳 Senegal
🇺🇸 USA 0–2 🇧🇦 Bosnia
🇪🇸 Spain 2–0 🇦🇹 Austria
🇵🇹 Portugal 1–1 🇭🇷 Croatia*
🇨🇭 Switzerland 1–1 🇩🇿 Algeria*
🇦🇺 Australia 1–2 🇪🇬 Egypt
🇦🇷 Argentina 1–0 🇨🇻 Cape Verde
🇨🇴 Colombia 2–1 🇬🇭 Ghana
* Team who advance to the next ROUND
What are your predictions?
AFRICAN COUNTRIES BY ECONOMIC PERFORMANCE SCORE (IMD WORLD COMPETITIVENESS 2026) 🌍
Country — Score | Global Rank
1 🇳🇬 Nigeria — 45.20 | 55th
2 🇿🇦 South Africa — 36.27 | 64th
3 🇬🇭 Ghana — 34.60 | 65th
4 🇰🇪 Kenya — 33.19 | 66th
5 🇳🇦 Namibia — 22.30 | 68th
6 🇧🇼 Botswana — 18.25 | 69th
Nigeria ranks as Africa’s highest-performing country in the IMD 2026 Economic Performance factor ranking.
The gap between Nigeria (45.20) and Botswana (18.25) highlights significant differences in economic performance across the continent.
#Statisense
(IMD World Competitiveness Ranking )